KBR Ups Dividend by 60% to 8 Cents

By Michael Aneiro

Energy engineering services company KBR Inc. (KBR) just announced a 60% increase in the quarterly cash dividend, to 8 cents per share from 5, payable April 15, 2013 to shareholders as of March 15.

“KBR’s 60% dividend increase reflects our continued confidence in the company’s ability to generate strong cash flow in the future and the company’s commitment to efficiently return cash to shareholders,” said KBR CEO Bill Utt in a statement.

After gaining 1.72% Tuesday, KBR shares were down .27% after hours to $30.67, offering a new dividend yield of 1%, up from 0.65% previously.